What is the scope of microeconomics?

Micro-economics deals with a small part of the national economy. It studies the individual economic units such as individual consumer, individual producer, individual firm, the price of a particular commodity or a factor etc. The price of an individual commodity is determined by the market forces of demand and supply.

What are the scope of macroeconomics class 12?

It deals with the total employment, national income, national output, total investment, total consumption, total savings, general price level, interest rates, trade cycles, business fluctuations etc.

What is nature and scope of macroeconomics?

Nature of Macroeconomics: Macroeconomics is the study of aggregates or averages covering the entire economy, such as total employment, national income, national output, total investment, total consumption, total savings, aggregate supply, aggregate demand, and general price level, wage level, and cost structure.

What are the scope of micro and macro economics?

Macroeconomics: An Overview. Economics is divided into two categories: microeconomics and macroeconomics. Microeconomics is the study of individuals and business decisions, while macroeconomics looks at the decisions of countries and governments.

Which of the followings is the subject area of macroeconomics?

The subject matter of macroeconomics is income and employment, inflation, balance of payment problems etc.

What means macroeconomics?

Macroeconomics is the branch of economics that deals with the structure, performance, behavior, and decision-making of the whole, or aggregate, economy. The two main areas of macroeconomic research are long-term economic growth and shorter-term business cycles.

Which of the following is not a scope of macroeconomics?

CONSUMER’S EQUILIBRIUM is not included in the macro economics. It is a micro economic property since it is dealt with indivudual units of economy whereas the other options deal the economy as a whole. They are included in the National Income whereas CONSUMER’S Equilibrium is not included.

What is the concept of macroeconomics?

Definition: Macroeconomics is the branch of economics that studies the behavior and performance of an economy as a whole. It focuses on the aggregate changes in the economy such as unemployment, growth rate, gross domestic product and inflation.